Benefits and Drawbacks of Buying a Home in an HOA

First and foremost, what is an HOA? Homeowners Associations (HOAs) are an organization of property owners in a planned community, condominium, or subdivision. Homeowners pay dues usually occurring monthly or annually that cover the cost of maintenance and operation. What a Homeowners Association covers varies from property to property. However, all HOAs have rules and regulations about what is allowed and what is considered a violation. If you’re in the market for a new home, there’s a high chance you’ll come across an HOA.

There are many benefits of buying a home in an HOA. Almost every HOA has rules about the appearance of the community. Typically included in HOA dues are maintenance and repairs such as lawn upkeep and trash removal so the neighborhood is consistently clean. With this, there might be restrictions as to what a homeowner is able to do with the exterior of their property to maintain a more cohesive and clean look. One of the major benefits of living in an HOA is the facilities included. Many provide swimming pools, workout areas, playgrounds, parks, tennis courts, and more. Some will even host parties or community events. 

The largest drawback of being a part of a Homeowners Association is the fees. Depending on the facilities included, as well as the size and age of the property, HOA fees can add a lot to your cost of living. Although some prefer the rules and regulations that come with a Homeowners Association, they can be highly restrictive in regard to what you can and cannot do with your property. 

If you are questioning whether or not you are interested in being part of an HOA, it’s entirely dependent on your personal preferences. Many people are happy paying the extra cost for access to services and amenities, as well as having a cohesive community. However, many people wish to have more of a say in what they can do with their own property.

Sea to Sierras Realty, Inc. has successfully sold properties up and down the California coast, all above asking price with multiple offers. And we have been doing it since long before the current hot housing market. We represent sellers exclusively, not buyers. Contact Sea to Sierras Realty, Inc at (858) 249-1499 today, or email us here.